2 growing ASX dividend shares for income investors

These ASX shares have been rewarding shareholders with growing dividends…
The post 2 growing ASX dividend shares for income investors appeared first on The Motley Fool Australia. –

If you’re searching for growing dividends, then you might want to look at the ASX shares listed below.

They have been growing their dividends at a decent rate and look well-positioned to continue doing so in the years to come. Here’s what you need to know about these ASX dividend shares:

Coles Group Ltd (ASX: COL)

Coles is of course one of Australia’s big-two supermarket operators. In addition to this, it operates other businesses such as flybuys and Liquorland.

Thanks to its defensive qualities and strong market position, the company has been growing strongly during the pandemic. And while its growth could turn negative in the immediate term due to heightened sales in the prior corresponding period, its sales are still growing nicely on a two-year basis.

Furthermore, the company has been tipped to resume its growth in FY 2022, leading to another dividend increase.

For example, Goldman Sachs is forecasting dividends per share of 62 cents in FY 2021 and 67 cents in FY 2022. Based on the current Coles share price, this will mean fully franked yields of 3.7% and 4%, respectively, over the next two years.

Rural Funds Group (ASX: RFF)

Another ASX share that has been growing its dividend at a solid rate in recent years is Rural Funds. It is an agricultural-focused property company with a diverse portfolio of assets. This includes almond and macadamia orchards, premium vineyards, water entitlements, cattle, and cropping assets.

The company’s properties are leased to high quality tenants on very long term agreements. And with rental increases built into these agreements, the company appears well-placed to grow its distribution by its target of 4% per annum.

Management has provided distribution guidance for 11.28 cents per share in FY 2021 and then 11.73 cents per share in FY 2022. This implies yields of 4.4% and 4.6%, respectively.

The post 2 growing ASX dividend shares for income investors appeared first on The Motley Fool Australia.

These Dividend Stocks Could Be Your Next Cash Kings (FREE REPORT)

Motley Fool Australia’s Dividend experts recently released a brand-new FREE report revealing 3 dividend stocks with JUICY franked dividends that could keep paying you meaty dividends for years to come.

Our team of investors think these 3 dividend stocks should be a ‘must consider’ for any savvy dividend investor. But more importantly, could potentially make Australian investors a heap of passive income.

Don’t miss out! Simply click the link below to grab your free copy and discover these 3 high conviction stocks now.

Returns As of 15th February 2021

More reading

Why the Coles (ASX:COL) share price is pushing higher today
Here are 3 ASX shares going ex-dividend next week

Wesfarmers (ASX:WES) reportedly looking to buy cancer care provider
Brokers name 2 ASX dividend shares to buy

Which ASX 200 shares are winners from the latest retail trade figures?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended COLESGROUP DEF SET and RURALFUNDS STAPLED. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!